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Advancing Boulder's innovation economy

By John Tayer

Posted:
01/11/2014 01:00:00 AM MST

Thanks to many decades of planning and effort to make Boulder a great place to live and work, Boulder achieved national recognition in 2013 as the acknowledged leader in business innovation and entrepreneurship. We can afford to be proud of what we have accomplished together. We cannot afford to be complacent. As the New Year prompts us to set new goals for achievement, I recently invited City Council to collaborate with the Boulder Chamber on a set of community goals to foster creativity and innovation in 2014.

Since Boulder first fought to host the University of Colorado in the 1800s, the strength of our economy has been grounded in creativity and entrepreneurism. Building on that spirit and on our beautiful natural environment, we've created an unparalleled setting for innovation leadership: cutting-edge tech companies, world-class labs, dynamic new industries such as natural foods and recreation, thriving arts venues, all buttressed by a culture of collaboration.

The "Innovation Blueprint 3.0" initiative, which began last May, is a comprehensive plan to further advance Boulder's leadership as a hub for creative entrepreneurship. The Innovation Blueprint addresses holes in our support for startup businesses and the innovation economy that we ignore at our peril. Business leaders throughout the community are already engaged in moving some of the Innovation Blueprint's specific initiatives forward. However, the City of Boulder's participation is critical.

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We can make 2014 the year for solidifying our leadership position for decades to come. This year's priority initiatives, the "Innovation Fourteeners," will ensure our long term, broad-based success. They are:

Support an "Innovation HQ" to be the focal point for advancement of Boulder's innovation leadership. With the Alliance Center for Sustainable Development in Denver and the Rocky Mountain Innosphere in Fort Collins as models, imagine a world-class multi-tenant, nonprofit business support center in Boulder to assist entrepreneurs and engage thought leaders on strategies for strengthening our innovation economy.

Strengthen Boulder's brand as an innovation leader. Boulder has achieved recognition as a hub of innovation, most recently being named the "most entrepreneurial city in America" by Inc. magazine. Investment in further brand marketing will insure our continued leadership position by aiding in attracting top creative talent, recruiting experienced management executives, and encouraging innovators to initiate and grow their businesses in Boulder.

Attract capital to help businesses start and grow. Too many worthy business concepts fail to move forward due to a local capital investment gap and the inability to secure the attention of national investors. Through a campaign to proactively recruit financial resources to our region, we can address these gaps and help connect entrepreneurs to local and national funding sources.

Expand mentoring and education programs. In our entrepreneurial community, there is a high demand for the professional development and mentoring services that help aspiring and experienced business leaders turn their creative technologies, products and ideas into successful enterprises. The Boulder Chamber, in collaboration with the Boulder Small Business Development Center, provides these critical skill development services, but an unmet need remains. Our proven track record shows that directing resources to these services is a sound investment.

Remaining a resilient, sustainable innovation hub for the long term depends upon Boulder's continued economic vitality. Last year, a series of strategies and actions outlined in the 2013 City of Boulder Economic Sustainability Strategy thoughtfully addressed issues challenging our economic vitality including; office space, workforce, amenities, and regulations. The same issues present challenges to sustainable innovation. The chamber is an active partner in the community's sustainable economic vitality goals through the work of our Boulder Economic Council and close collaboration with the City of Boulder's own professional staff.

The Boulder Chamber also is eager to continue our collaboration on creative solutions to achieving the community's environmental and social goals. From the transition to clean energy sources and addressing the affordable housing deficit, to supporting human services and our arts and cultural resources, the chamber seeks to help maintain the balance of community assets that keep Boulder such a special place to live, play, and work.

With innovation at the core of our continued success, the Boulder Chamber invites City Council and all community leaders to join us in support of our "Innovation Fourteeners" for 2014. Together, we will continue to feed the creativity and entrepreneurship that is the engine of our vibrant economy.

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